Hydro promoters want investment-friendliness

Rs 20 trillion needed for 10,000MW

Kantipur Report

KATHMANDU, Sept 23 - Chairman and Managing Director of PTC India Limited T.N. Thakur Monday said that producing 10,000 megawatts (MWs) of hydroelectricity as projected by the Nepal government was possible provided the situation on the ground is investment-friendly.Thakur, who is in ...

He also stressed the need for tapping the opportunity on time. "This opportunity may not be available after 10 years," he said.

Addressing a press meet in Kathmandu on the eve of the Summit, Thakur also called upon the government to carry out ground-level action prudently so as to make projects sustainable. He suggested that investors take locals' needs in a positive light.

"Ignoring local requirements will create resentment, which would not help create a favourable environment for investors. Therefore you cannot ignore the demands of the locals," said the chief of PTC, the leading provider of power trading solutions in India.

According to Thakur, electricity demand in the Indian market will reach 350,000 MWs in the next 10 years. The Maoist-led government, in its recently-presented annual budget, has vowed to generate 10,000 MWs of hydroelectricity in 10 years.

Thakur said Prime Minister Pushpa Kamal Dahal has expressed strong commitment to expediting hydro projects. "Now, the need is to carry out ground level actions to create investment-friendly situation at the site," he added.

President of Nepal-India Chamber of Commerce and Industry (NICCI) Arun Kumar Chaudhary said though some security and other hindrances have surfaced in Nepal, it could be tackled. He underscored the need of dealing with energy issues through a business approach instead of a political one . "The issue of hydro power is too politicized. There needs a business-to-business approach," he added.

President of Independent Power Producers' Association Nepal (IPPAN) Dr Sandip Shah said the summit aims at outlining Nepal's strategy and initiatives for harnessing water resources, sharing investment opportunities in Nepal's energy sector and establishing Nepal as a lucrative investment destination for renewable power projects.

Assessing the risks in hydro power investments and risk mitigation, risk securitization measures and sharing lessons from project implementations in India are other objectives of the Summit. IPPAN, PTC India Limited and NICCI are organizing the two-day summit to showcase power market development and energy security.